Who is online?
In total there are 3 users online :: 0 Registered, 0 Hidden and 3 Guests :: 2 Bots


[ View the whole list ]

Most users ever online was 25 on Thu Mar 12, 2015 5:00 pm
Latest topics
» This forum no longer accept new postings
Fri Jul 03, 2015 9:34 am by joseph

» Industrial Diesel
Fri Jul 03, 2015 9:11 am by joseph

» ICT industry
Fri Jul 03, 2015 9:10 am by joseph

» Input Tax (Passenger Car for business purpose)
Mon Jun 29, 2015 5:25 pm by joseph

» Conditions to Claim Input Tax
Mon Jun 29, 2015 3:12 pm by joseph

» Additional industry code
Sun Jun 28, 2015 5:53 pm by joseph

» Sales Commisions
Fri Jun 26, 2015 7:44 pm by Poon1

» Advance payment for services not rendered yet
Thu Jun 25, 2015 4:13 pm by joseph

» Turnover Below RM500,000 subequent to GST registration
Wed Jun 24, 2015 6:16 pm by joseph

» Consigment Sales
Wed Jun 24, 2015 6:00 pm by joseph

» GST Accounting Entries
Tue Jun 23, 2015 10:21 pm by joseph

» Advance payment received from Customer
Tue Jun 23, 2015 5:45 pm by joseph

We have 351 registered users
The newest registered user is emtng

Our users have posted a total of 570 messages in 139 subjects

Display results as :

Rechercher Advanced Search

Actual qty import different from declared in custom form

Go down

Actual qty import different from declared in custom form

Post by siewvincent on Mon May 18, 2015 5:21 pm

Dear Joseph,
I hope you can help me with this problem.
We import through agent whereby the GST 6% was paid as follows to RMC as follows : -
24MT x USD208.13 x 3.7144 = RM18,553.87 x 6% RM1,113.23
(The qty 24 MT was provisional when the item was declared at custom)

Later, we received an invoice from our supplier for actual qty of 22.07MT
How do we account for input tax for the difference in qty received to RMC as follows?

(24 - 22.07) MT x USD208.13 x 3.7144 = RM1,492.04 x 6% = RM89.52

If possible let me know which tax code I can assign to the difference?



Posts : 2
Join date : 2015-05-15

Back to top Go down

Re: Actual qty import different from declared in custom form

Post by joseph on Mon May 18, 2015 6:05 pm

If Customs refund you the extra GST, then reverse the accounting entries for the 24MT using the difference in MT.

If Customs did not refund you the extra GST they collected, then no need to record the difference.


Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.


Posts : 277
Join date : 2014-09-25

Back to top Go down

Back to top

- Similar topics

Permissions in this forum:
You cannot reply to topics in this forum